Euronext-listed Prologis European Properties has announced lease transactions totalling 89,600 m[sup]2[/sup] in the Netherlands and Germany. Over 70% of this activity relates to new leases.
Euronext-listed Prologis European Properties has announced lease transactions totalling 89,600 m2 in the Netherlands and Germany. Over 70% of this activity relates to new leases.
In the largest deal, C. Steinweg Handelsveem, a provider in the handling and storage of commodities throughout the world, extended its existing 11,200 m2 lease in Prologis Park Eemhaven, near Rotterdam, by one and half years, to October 2012.
The company will also lease an additional 59,300 m2 in the Rotterdam area. In Eemhaven, the company will occupy a further 8,600 m2 of previously vacant space until October 2012 and it will add another 12,900 m2 to its operations in January 2011 when the current customer vacates the building. This lease will expire in June 2012.
As a result of these transactions, portfolio occupancy in The Netherlands will improve to over 90%.
